Illinois Business Developments

Illinois is the most populous market of the Midwest and home to over 2,000 corporate headquarters, an active startup scene, and over 1.2 million small-scale businesses, offers all the resources global businesses need to be successful in today's competitive business. From the world-class infrastructure that connects businesses with their suppliers and customers to a skilled and knowledgeable workforces in various industries and an advanced manufacturing base - Illinois leads in many areas such as advanced and clean agriculture, energy, IT life sciences and transportation logistics.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois and by 2023, this total was more than USD $13.2 billion in agricultural, manufacturing, and other industries in Illinois all by itself.

Since 2014, over $1 billion in incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a state-of-the-art manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and lotto press release [https://form.jotform.com] Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin and will create 50 full-time positions while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs from the local area with help in starting or expanding their businesses through programs such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors, and access to financing opportunities.

State leaders in Indiana are informing employers to provide higher wages and benefits as a method of keeping child care employees in the United States and facing a lack of job. This follows the closing of a child care center in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on lawful employment practices. Employers can search using keywords or browse categories on the website; and connect with state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois tax incentives that can be used for business expansion. They hosted a webinar this week on this subject, which was recorded and will become archived and posted on their site.